Yorktown Management & Research Co Inc Makes New $357,000 Investment in Zurn Elkay Water Solutions Cor $ZWS

Yorktown Management & Research Co Inc purchased a new position in Zurn Elkay Water Solutions Cor (NYSE:ZWS) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,750 shares of the company’s stock, valued at approximately $357,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ZWS. Whittier Trust Co. bought a new position in Zurn Elkay Water Solutions Cor in the 2nd quarter worth approximately $26,000. HM Payson & Co. bought a new position in Zurn Elkay Water Solutions Cor in the 1st quarter worth approximately $37,000. Federated Hermes Inc. boosted its stake in Zurn Elkay Water Solutions Cor by 3,687.2% in the 1st quarter. Federated Hermes Inc. now owns 1,780 shares of the company’s stock worth $59,000 after purchasing an additional 1,733 shares during the period. CWM LLC boosted its stake in Zurn Elkay Water Solutions Cor by 33.8% in the 2nd quarter. CWM LLC now owns 1,799 shares of the company’s stock worth $66,000 after purchasing an additional 454 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Zurn Elkay Water Solutions Cor by 137.6% in the 2nd quarter. GAMMA Investing LLC now owns 2,262 shares of the company’s stock worth $83,000 after purchasing an additional 1,310 shares during the period. 83.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In related news, Director Timothy J. Jahnke sold 2,156 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $47.54, for a total transaction of $102,496.24. Following the sale, the director owned 308,964 shares in the company, valued at approximately $14,688,148.56. This represents a 0.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Sudhanshu Chhabra sold 108,930 shares of the stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $43.61, for a total value of $4,750,437.30. Following the sale, the vice president owned 94,330 shares in the company, valued at $4,113,731.30. The trade was a 53.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 158,930 shares of company stock worth $7,026,607 in the last 90 days. 2.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have weighed in on ZWS. Stifel Nicolaus upped their price target on Zurn Elkay Water Solutions Cor from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Oppenheimer upped their price target on Zurn Elkay Water Solutions Cor from $48.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 17th. Weiss Ratings restated a “buy (b-)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Wednesday, October 8th. Finally, Zacks Research downgraded Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 13th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $40.50.

Zurn Elkay Water Solutions Cor Stock Down 1.0%

Shares of ZWS opened at $46.13 on Wednesday. The stock has a market capitalization of $7.73 billion, a price-to-earnings ratio of 45.68, a price-to-earnings-growth ratio of 2.50 and a beta of 1.09. Zurn Elkay Water Solutions Cor has a 1 year low of $27.74 and a 1 year high of $48.42. The business’s 50 day simple moving average is $46.39 and its 200-day simple moving average is $40.33. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.71 and a quick ratio of 1.72.

Zurn Elkay Water Solutions Cor (NYSE:ZWS) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.03. The business had revenue of $455.40 million for the quarter, compared to analysts’ expectations of $442.62 million. Zurn Elkay Water Solutions Cor had a return on equity of 15.23% and a net margin of 10.78%.The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.34 EPS. As a group, equities analysts expect that Zurn Elkay Water Solutions Cor will post 1.36 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Cor Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Thursday, November 20th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.0%. The ex-dividend date is Thursday, November 20th. This is a boost from Zurn Elkay Water Solutions Cor’s previous quarterly dividend of $0.09. Zurn Elkay Water Solutions Cor’s payout ratio is currently 35.64%.

About Zurn Elkay Water Solutions Cor

Zurn Elkay Water Solutions Corporation engages in design, procurement, manufacture, and marketing of water management solutions in the United States, Canada, and internationally. It offers water safety and control products, such as backflow preventers, fire system valves, pressure reducing valves, thermostatic mixing valves, PEX pipings, fittings, and installation tools under the Zurn and Wilkins brand names.